Independent Bank Group, Inc (NASDAQ:IBTX) has been assigned an average recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $71.40.

A number of research analysts have recently commented on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price objective on shares of Independent Bank Group in a report on Friday, September 1st. BidaskClub upgraded Independent Bank Group from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Keefe, Bruyette & Woods restated a “buy” rating and set a $71.00 price target on shares of Independent Bank Group in a research note on Wednesday, October 4th. Finally, Zacks Investment Research raised Independent Bank Group from a “sell” rating to a “hold” rating in a research report on Friday, October 6th.

Shares of Independent Bank Group (NASDAQ:IBTX) traded down $0.35 during trading on Thursday, hitting $68.55. The stock had a trading volume of 62,285 shares, compared to its average volume of 129,436. The stock has a market capitalization of $1,932.90, a price-to-earnings ratio of 20.28 and a beta of 1.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.03 and a current ratio of 1.04. Independent Bank Group has a 1 year low of $51.70 and a 1 year high of $70.75.

Independent Bank Group (NASDAQ:IBTX) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Independent Bank Group had a return on equity of 8.11% and a net margin of 23.46%. The firm had revenue of $84.99 million for the quarter, compared to analyst estimates of $83.00 million. During the same quarter last year, the firm posted $0.78 earnings per share. research analysts forecast that Independent Bank Group will post 3.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. Independent Bank Group’s dividend payout ratio is currently 12.90%.

In other news, Vice Chairman Daniel W. Brooks sold 7,503 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $60.67, for a total value of $455,207.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Brian E. Hobart sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $60.71, for a total value of $1,365,975.00. The disclosure for this sale can be found here. Insiders sold a total of 87,397 shares of company stock valued at $5,565,604 over the last three months. Insiders own 7.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HarbourVest Partners LLC bought a new position in shares of Independent Bank Group during the second quarter valued at approximately $44,821,000. Dimensional Fund Advisors LP lifted its holdings in shares of Independent Bank Group by 23.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 644,395 shares of the bank’s stock worth $38,857,000 after acquiring an additional 120,480 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Independent Bank Group by 18.1% in the 2nd quarter. Vanguard Group Inc. now owns 616,447 shares of the bank’s stock worth $36,678,000 after acquiring an additional 94,580 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Independent Bank Group by 13.1% in the 2nd quarter. Alliancebernstein L.P. now owns 541,800 shares of the bank’s stock worth $32,237,000 after acquiring an additional 62,710 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Independent Bank Group by 13.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 525,689 shares of the bank’s stock worth $31,279,000 after acquiring an additional 61,697 shares during the last quarter. 49.75% of the stock is owned by hedge funds and other institutional investors.

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About Independent Bank Group

Independent Bank Group, Inc is a bank holding company. Through the Company’s subsidiary, Independent Bank (the Bank), the Company provides a range of commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. As of December 31, 2016, the Company operated 41 banking offices in the Dallas/North Texas area, the Austin/Central Texas area, and the Houston metropolitan area.

Analyst Recommendations for Independent Bank Group (NASDAQ:IBTX)

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